I have also tried to disable all the plugins one by one and website comes back on full speed after I disable the Woocommerce. Previously I have also added caching plugins, but that could not solve the loading problem.
Could you please check how it works with some default WordPress themes like TwentyTwenty or WooCommerce Storefront to understand is it our theme issue or not?
If it is slow with other themes as well then it is not our theme issue. We suggest you to check your installed plugins and consult with your hosting provider.